3D Printing: New Opportunities For The Medical Device Industry

The medical devices industry has been facing a plethora of regulatory challenges leading to protracted lead times as well as high device development costs for new and enhanced medical devices. These costs assume worrying proportions in cases of low volume production for low volume product markets.

Not surprisingly, industry players are evaluating several alternatives to address these cost concerns. One promising option - 3D printing technology - involves leveraging additive manufacturing processes that use a layer by layer material build-up process to create 3- dimensional objects. 3D printing is already helping businesses to:

• Significantly reduce design iterations
• Integrate complex shapes or structures
• Personalize devices for the user
• Print 3D production grade samples for faster regulatory approvals
• Simplify manufacturing processes and supply chain

This paper discusses the wealth of possibilities that 3D printing offers to manufacturers of medical devices. We not only discuss the several new opportunities that manufacturers can leverage, but also present ideas on overcoming potential challenges. In addition, we analyze various 3D printing business models to improve ease of adoption.